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U.S. GDP revised to 4.1 % in the second-quarter
GDP, U.S. Economy
The third and final government estimate of second-quarter GDP, shows that the nations output has accelerated in the second-quarter, as the U.S. trade balance improves.
In the second-quarter Gross domestic product soared by 4.1 % to $19,960 billions, an increase from $19,754 billions in the first-quarter on the seasonally adjusted basis, reported by the Commerce Department. Improving foreign trade in the second-quarter was one of the major contributor to the GDP growth.
A slew of recent economic data point to continued economic strength during the second-quarter, Economists continue to debate whether the economy could maintain its current pace of growth.
The revised GDP data showed strong gains registered by consumers in spending and income, which were revised higher than in the previous quarter. Salaries and Worker wages grew by 1.39 % quarterly.
U.S. Gross National Product grew by 2.8 % over the past 12 months, led by growth in consumer spending and exports. |
In the second-quarter consumer spending grew by 4.0 %
With estimated annual rate of $13,877 billions, seasonally adjusted in the first-quarter, consumer spending accounts for 69.24 % of economic activity on the seasonally adjusted basis, helped by improving consumption in food service industry.
Spending on U.S. made Goods increased by 4.2 %, where consumption of Durable Goods grew by 9.3 %, driven by higher sales of furniture and household equipment.
Growth in nondurable goods of 3.1 %, was driven by higher clothing and shoes sales, up 2.23 %.
U.S. Sevice sector grew faster than gross national product by 5.9 %, helped by improving consumption in food service industry. Consumer spending for services accounts for 69.76% of total speding and 47.62% of total GDP.
Final sales for domestic product, considered a measure of domestic demand because it excludes inventories and trade, jumped at a 3.9 % rate in the second-quarter after rising 2.0 % in the first-quarter.
This is the third and final revision in the government's estimate of second-quarter growth in goods and services. The government provides three estimates of economic growth each reflecting more complete information than the previous one.
• More on U.S. Real Gross Domestic Product
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Contributions
to Percent Change in Real GDP |
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2.69% |
-0.06% |
0.37% |
1.04% |
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Government Consumption |
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Government consumption expenditure and gross investment surged by 2.10 %, federal spending rose 3.50 %, including an 5.50 % rise in national defense spending. Government spending on national defense accounts for 3.78 % of total nation's output and 22.05 % of total government spending.
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International Trade |
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Diversified |
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Investments decreased by -0.50 % to $3,576 billions, despite the increase in Gross national product in second-quarter on the seasonally adjusted basis, reported by the Commerce Department.
Liquidation of inventory from April-through-June acted as a major drag on growth, but that liquidation will set the stage for stronger growth later after companies have brought supply back in line with demand.
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Exports increased 9.30 % in the second-quarter, after having risen 3.60 % in the first-quarter. Imports fell 0.50 %, a reversal from the first-quarter's 3.20 % growth. Net exports contributed 1.04 of a percentage points to growth.
A potential obstacle to higher growth, however, are waning corporate profits, which grew only 1.79 % quarterly, led by Utilities.
• Relation of U.S. GDP, U.S. GNP
• Corporate Profits by Industry
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Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
II Quarter
2018
final |
I Quarter
2018
rev. |
IV Quarter
2017
adv. |
III Quarter
2017
final |
II Quarter
2017
rev. |
I Quarter
2017
adv. |
| Gross domestic product (GDP) |
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4.1 % |
2 % |
2.9 % |
3.2 % |
3.1 % |
1.4 % |
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Personal consumption expenditures |
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4 % |
0.9 % |
4 % |
2.2 % |
3.3 % |
1.1 % |
| Goods |
|
4.2 % |
0.5 % |
4.8 % |
2.3 % |
4.2 % |
1.6 % |
| Durable goods |
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9.3 % |
-2.1 % |
13.7 % |
8.6 % |
7.6 % |
-1.6 % |
| Nondurable goods |
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3.1 % |
1.5 % |
2.3 % |
1.1 % |
2.3 % |
1.4 % |
| Services
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5.9 % |
-0.4 % |
7.8 % |
4.5 % |
5.4 % |
0.5 % |
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Gross private domestic investment |
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-0.5 % |
7.5 % |
4.7 % |
7.3 % |
3.9 % |
3.7 % |
| Fixed investment |
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5.4 % |
7.6 % |
8.2 % |
2.4 % |
3.2 % |
11 % |
| Nonresidential |
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7.3 % |
10.4 % |
6.8 % |
4.7 % |
6.7 % |
10.4 % |
| Structures |
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13.3 % |
16.2 % |
6.3 % |
-7 % |
7 % |
22.6 % |
| Equipment &
software |
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3.9 % |
5.8 % |
11.6 % |
10.8 % |
8.8 % |
7.8 % |
| Residential |
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-1.1 % |
-1.1 % |
12.8 % |
-4.7 % |
-7.3 % |
13 % |
| Change in private
inventories |
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- % |
- % |
- % |
- % |
- % |
- % |
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Net exports of goods and services |
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| Exports
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9.3 % |
3.6 % |
7 % |
2.1 % |
3.5 % |
7 % |
| Goods |
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13.3 % |
3.4 % |
11.6 % |
1.8 % |
2.2 % |
10.5 % |
| Services |
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1.9 % |
4 % |
-1.4 % |
2.5 % |
6.2 % |
0.7 % |
| Imports
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0.5 % |
3.2 % |
14.1 % |
-0.7 % |
1.5 % |
4 % |
| Goods |
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1 % |
2.6 % |
17.3 % |
-0.2 % |
1.3 % |
4.4 % |
| Services |
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-1.9 % |
5.9 % |
1.1 % |
-2.6 % |
2.2 % |
2.4 % |
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| Govt. consumption exp.
& gross investment |
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2.1 % |
1.3 % |
3 % |
0.7 % |
-0.2 % |
-0.9 % |
| Federal |
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3.5 % |
1.7 % |
3.2 % |
1.3 % |
1.9 % |
-2 % |
| National defense |
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5.5 % |
1.8 % |
5.5 % |
2.4 % |
4.7 % |
-3.9 % |
| Nondefense |
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0.6 % |
1.6 % |
-0.1 % |
-0.2 % |
-1.9 % |
0.7 % |
| State & local |
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1.4 % |
1 % |
2.9 % |
0.2 % |
-1.5 % |
-0.2 % |
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| Addenda: |
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| Final sales of domestic product |
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3.9 % |
2 % |
3.4 % |
2.4 % |
2.9 % |
2.6 % |
| Gross domestic purchases |
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4.3 % |
2 % |
4 % |
2.7 % |
2.8 % |
1.2 % |
| Final sales to domestic
purchasers |
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- % |
2 % |
4.5 % |
1.9 % |
2.7 % |
2.3 % |
| Gross national product
(GNP) |
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- % |
1.9 % |
2.7 % |
3.7 % |
2.8 % |
1.1 % |
| Disposable personal income |
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2.6 % |
3.6 % |
1.1 % |
0.5 % |
3.3 % |
1.7 % |
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| Current-dollar measures: |
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| GDP |
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7.4 % |
4.2 % |
5.3 % |
5.3 % |
4.1 % |
3.4 % |
| Final sales of domestic product |
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- % |
2.1 % |
4.8 % |
2.2 % |
3.3 % |
2.9 % |
| Gross domestic purchases |
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4.3 % |
2 % |
4 % |
2.7 % |
2.8 % |
1.2 % |
| Final sales to domestic purchasers |
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- % |
2 % |
4.5 % |
1.9 % |
2.7 % |
2.3 % |
| GNP |
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- % |
1.9 % |
2.7 % |
3.7 % |
2.8 % |
1.1 % |
| Disposable personal income |
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2.6 % |
3.6 % |
1.1 % |
0.5 % |
3.3 % |
1.7 % |
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Quarters seasonally adjusted
(Quarterly Y / Y, in %) |
II Quarter
2018
final |
I Quarter
2018
rev. |
IV Quarter
2017
adv. |
III Quarter
2017
final |
II Quarter
2017
rev. |
I Quarter
2017
adv. |
| Gross domestic product (GDP) |
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2.8 % |
2.6 % |
2.6 % |
2.3 % |
2.2 % |
2.1 % |
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Personal consumption expenditures |
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2.7 % |
2.4 % |
2.8 % |
2.6 % |
2.7 % |
3 % |
| Goods |
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2.6 % |
2.6 % |
3.1 % |
2.4 % |
2 % |
2.5 % |
| Durable goods |
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6.8 % |
6.6 % |
7.3 % |
6.1 % |
6.8 % |
7.7 % |
| Nondurable goods |
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2 % |
1.7 % |
2.1 % |
2.1 % |
2.3 % |
2.4 % |
| Services
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4 % |
3.9 % |
4.5 % |
3.7 % |
3.6 % |
4.2 % |
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Gross private domestic investment |
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4.6 % |
6.2 % |
3.6 % |
4.6 % |
3.3 % |
1.9 % |
| Fixed investment |
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5.5 % |
5.2 % |
5.4 % |
3.8 % |
3.7 % |
3.1 % |
| Nonresidential |
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6.7 % |
6.7 % |
6.3 % |
4.6 % |
4.4 % |
3.3 % |
| Structures |
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5.4 % |
3.1 % |
5 % |
2.9 % |
8.1 % |
7.1 % |
| Equipment &
software |
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8 % |
9.5 % |
8.9 % |
6.3 % |
3.1 % |
0.5 % |
| Residential |
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1.4 % |
0.2 % |
2.6 % |
1.2 % |
1.5 % |
2.3 % |
| Change in private
inventories |
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- % |
- % |
- % |
- % |
- % |
- % |
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Net exports of goods and services |
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| Exports
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5.7 % |
4.3 % |
5 % |
2.2 % |
3.3 % |
3.4 % |
| Goods |
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7.2 % |
5 % |
6.5 % |
2.7 % |
4.3 % |
4.7 % |
| Services |
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2.8 % |
3 % |
2 % |
1.3 % |
1.4 % |
1.1 % |
| Imports
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4.4 % |
5 % |
4.7 % |
3.1 % |
4.1 % |
3.8 % |
| Goods |
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4.9 % |
5.2 % |
5.5 % |
3.6 % |
4.1 % |
3.9 % |
| Services |
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2.5 % |
3.8 % |
0.8 % |
1.2 % |
4 % |
3.4 % |
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| Govt. consumption exp.
& gross investment |
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1.2 % |
0.7 % |
0.7 % |
-0.1 % |
-0.1 % |
-0.4 % |
| Federal |
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2.2 % |
1.9 % |
1 % |
0.1 % |
0.1 % |
-0.3 % |
| National defense |
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2.1 % |
2.1 % |
2.3 % |
0.1 % |
0.1 % |
-2.2 % |
| Nondefense |
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2.4 % |
1.7 % |
-0.9 % |
- % |
0.2 % |
2.4 % |
| State & local |
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0.7 % |
- % |
0.5 % |
-0.1 % |
-0.2 % |
-0.5 % |
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| Addenda: |
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| Final sales of domestic product |
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3 % |
2.4 % |
2.9 % |
2.2 % |
2.3 % |
2.3 % |
| Gross domestic purchases |
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2.7 % |
2.7 % |
2.6 % |
2.5 % |
2.3 % |
2.2 % |
| Final sales to domestic
purchasers |
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3 % |
2.4 % |
2.9 % |
2.2 % |
2.3 % |
2.3 % |
| Gross national product
(GNP) |
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- % |
2.7 % |
2.5 % |
2.4 % |
2.2 % |
2.4 % |
| Disposable personal income |
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2.9 % |
2.8 % |
1.8 % |
1 % |
1.2 % |
1.8 % |
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| Current-dollar measures: |
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| GDP |
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- % |
- % |
- % |
- % |
- % |
- % |
| Final sales of domestic product |
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- % |
- % |
- % |
- % |
- % |
- % |
| Gross domestic purchases |
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- % |
- % |
- % |
- % |
- % |
- % |
| Final sales to domestic purchasers |
|
- % |
- % |
- % |
- % |
- % |
- % |
| GNP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Disposable personal income |
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- % |
- % |
- % |
- % |
- % |
- % |
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U.S. Real Gross Domestic Product and Related Measures
GDP, U.S. Economy in Billions of U.S. dollars
Quarters seasonally adjusted
(At annual rates, in Billions of Dollars) |
II Q. 2018
final |
I Q. 2018
rev. |
IV Q. 2017
adv. |
III Q. 2017
final |
II Q. 2017
rev. |
I Q. 2017
adv. |
| Gross domestic product
(GDP) |
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20,402.5 |
20,041.0 |
19,754.1 |
19,500.6 |
19,250.0 |
19,027.1 |
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Personal consumption expenditures |
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13,877.2 |
13,679.6 |
13,654.3 |
13,429.1 |
13,307.0 |
13,120.4 |
| Goods |
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4,334.1 |
4,267.7 |
4,401.8 |
4,301.4 |
4,247.2 |
4,220.6 |
| Durable
goods |
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1,461.6 |
1,434.5 |
1,517.8 |
1,477.6 |
1,456.6 |
1,438.9 |
| Motor vehicles & parts |
|
507.5 |
498.5 |
519.8 |
497.8 |
486.3 |
481.4 |
| Furniture & household equipment |
|
332.0 |
324.1 |
346.8 |
339.1 |
335.9 |
321.9 |
| Other |
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230.2 |
223.4 |
237.9 |
234.5 |
228.6 |
222.9 |
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| Nondurable goods |
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2,872.5 |
2,833.2 |
2,884.0 |
2,823.8 |
2,790.6 |
2,781.7 |
| Food off-premises consumption |
|
997.3 |
988.3 |
955.3 |
939.1 |
930.8 |
938.0 |
| Clothing
& shoes |
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394.1 |
385.5 |
405.5 |
399.8 |
399.5 |
382.2 |
| Gasoline,
fuel, oil & other energy goods |
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345.9 |
340.6 |
327.5 |
296.0 |
286.5 |
307.2 |
| Other |
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1,135.1 |
1,118.8 |
1,195.7 |
1,188.8 |
1,173.7 |
1,154.4 |
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| Services |
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9,543.2 |
9,411.9 |
9,252.5 |
9,127.7 |
9,059.8 |
8,899.8 |
| Housing |
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9,114.5 |
8,992.5 |
8,870.0 |
8,755.2 |
8,683.1 |
8,534.7 |
| Food services |
|
938.7 |
914.2 |
888.8 |
879.5 |
873.8 |
873.6 |
| Electricity & gas |
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2,548.9 |
2,515.6 |
2,476.5 |
2,443.2 |
2,425.8 |
2,379.5 |
| Financial services |
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1,115.8 |
1,102.5 |
1,085.2 |
1,060.2 |
1,047.1 |
995.3 |
| Transportation |
|
455.6 |
450.1 |
412.2 |
404.4 |
406.1 |
381.8 |
| Medical
care |
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2,361.6 |
2,331.0 |
2,299.3 |
2,271.7 |
2,241.9 |
2,256.4 |
| Recreation |
|
553.9 |
549.0 |
522.6 |
520.8 |
515.7 |
502.9 |
| Other |
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1,140.0 |
1,130.1 |
1,185.4 |
1,175.3 |
1,172.7 |
1,145.3 |
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Gross private domestic investment |
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3,575.9 |
3,543.8 |
3,295.3 |
3,249.2 |
3,178.1 |
3,139.5 |
| Fixed investment |
|
3,581.9 |
3,507.4 |
3,279.2 |
3,207.3 |
3,173.3 |
3,139.6 |
| Nonresidential |
|
2,782.5 |
2,720.3 |
2,513.0 |
2,468.4 |
2,433.6 |
2,389.1 |
| Structures |
|
641.5 |
614.9 |
570.3 |
559.0 |
563.0 |
530.9 |
| Equipment & software |
|
1,227.0 |
1,212.6 |
1,142.5 |
1,111.0 |
1,082.3 |
1,074.8 |
| Information processing equipment & software |
|
411.8 |
401.9 |
334.7 |
327.7 |
319.3 |
333.0 |
| Computers & peripheral equipment |
|
83.5 |
82.7 |
79.2 |
84.9 |
80.1 |
77.5 |
| Software |
|
376.6 |
370.3 |
373.2 |
375.9 |
370.6 |
347.6 |
| Other |
|
454.0 |
439.7 |
255.5 |
242.8 |
239.2 |
255.5 |
| Industrial equipment |
|
242.1 |
243.9 |
250.6 |
246.7 |
241.7 |
233.7 |
| Transportation equipment |
|
301.6 |
300.7 |
302.4 |
292.8 |
283.5 |
293.1 |
| Other equipment |
|
271.5 |
266.1 |
254.8 |
243.8 |
237.8 |
215.0 |
| Residential |
|
799.4 |
787.2 |
766.2 |
738.9 |
739.7 |
750.5 |
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| Change
in private inventories |
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-6.0 |
36.3 |
16.0 |
41.9 |
4.9 |
-0.1 |
| Farm |
|
-2.1 |
-1.9 |
3.5 |
3.4 |
0.3 |
-7.6 |
| Nonfarm |
|
-3.9 |
38.2 |
12.5 |
38.5 |
4.6 |
7.5 |
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| Net
exports of goods & services |
|
-552.4 |
-639.2 |
-602.0 |
-534.1 |
-567.2 |
-562.8 |
| Exports |
|
2,568.9 |
2,477.4 |
2,419.6 |
2,345.9 |
2,314.9 |
2,319.4 |
| Goods |
|
1,705.6 |
1,628.1 |
1,607.4 |
1,544.1 |
1,520.9 |
1,524.5 |
| Services |
|
863.2 |
849.3 |
812.2 |
801.8 |
794.0 |
794.9 |
| |
|
|
|
|
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|
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| Imports |
|
3,121.3 |
3,116.6 |
3,021.6 |
2,880.1 |
2,882.1 |
2,882.2 |
| Goods |
|
2,539.2 |
2,537.1 |
2,478.6 |
2,345.2 |
2,350.3 |
2,362.2 |
| Services |
|
582.1 |
579.4 |
543.0 |
534.8 |
531.9 |
520.1 |
| |
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|
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|
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|
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| Govt. consumption exp. & investment |
|
3,501.8 |
3,456.8 |
3,406.6 |
3,356.5 |
3,332.1 |
3,330.1 |
| Federal |
|
1,312.5 |
1,294.8 |
1,278.9 |
1,263.5 |
1,255.8 |
1,260.3 |
|
National defense |
|
772.0 |
759.0 |
759.4 |
746.7 |
741.4 |
732.1 |
|
Consumption expenditures |
|
618.2 |
606.6 |
598.5 |
590.1 |
584.7 |
583.9 |
|
Gross investment |
|
153.8 |
152.4 |
160.9 |
156.5 |
156.6 |
148.2 |
|
Nondefense |
|
540.5 |
527.8 |
519.5 |
516.9 |
514.5 |
528.2 |
|
Consumption expenditures |
|
409.9 |
406.0 |
392.9 |
391.0 |
386.1 |
402.6 |
|
Gross investment |
|
130.6 |
129.8 |
126.5 |
125.9 |
128.4 |
125.7 |
| State and local |
|
394.1 |
2,162.0 |
2,127.7 |
2,092.9 |
2,076.2 |
2,069.8 |
| Consumption
expenditures |
|
1,801.4 |
1,784.4 |
1,780.8 |
1,759.8 |
1,743.7 |
1,717.1 |
| Gross
investment |
|
387.8 |
377.6 |
346.9 |
333.1 |
332.5 |
352.6 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
20,408.5 |
20,004.7 |
19,738.1 |
19,458.7 |
19,245.2 |
19,027.2 |
| Gross domestic purchases |
|
20,954.9 |
20,680.2 |
20,356.1 |
20,034.8 |
19,817.2 |
19,589.9 |
| Final sales to domestic purchasers |
|
17,459.1 |
17,187.0 |
19,738.1 |
19,458.7 |
19,245.2 |
19,027.2 |
| Gross national product |
|
- |
20,309.8 |
19,976.4 |
19,728.9 |
19,452.4 |
19,255.5 |
| Net domestic product |
|
17,150.3 |
16,837.6 |
16,674.1 |
16,448.5 |
16,229.3 |
16,056.6 |
Annual U.S. Real Gross Domestic Product and Related Measures
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Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
2017
|
2016
|
2015
|
2014
|
2013
|
2012
|
| Gross domestic product (GDP) |
|
2.3 % |
1.5 % |
2.6 % |
2.4 % |
2.2 % |
2.8 % |
|
Personal consumption expenditures |
|
2.8 % |
2.7 % |
3.2 % |
2.5 % |
2.4 % |
2.2 % |
| Goods |
|
2.4 % |
2.8 % |
2.6 % |
1.8 % |
1.9 % |
1.4 % |
| Durable goods |
|
3.9 % |
3.7 % |
4 % |
6.9 % |
6.7 % |
7.7 % |
| Nondurable goods |
|
2.2 % |
2.3 % |
2.8 % |
2.1 % |
1.9 % |
1.6 % |
| Services
|
|
3.3 % |
-1.6 % |
5 % |
3.4 % |
3.4 % |
3.3 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
6.7 % |
5.5 % |
6.9 % |
5.8 % |
4.9 % |
9.5 % |
| Fixed investment |
|
4.7 % |
-0.6 % |
2.1 % |
5.3 % |
4.7 % |
8.3 % |
| Nonresidential |
|
5.6 % |
-4.1 % |
-4.4 % |
6.3 % |
3 % |
7.3 % |
| Structures |
|
4.8 % |
-3.4 % |
3.5 % |
8.2 % |
-0.5 % |
12.7 % |
| Equipment &
software |
|
3.9 % |
6.3 % |
4.8 % |
6.4 % |
4.6 % |
7.6 % |
| Residential |
|
1.8 % |
5.5 % |
11.7 % |
4.8 % |
3.4 % |
3.4 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
3.4 % |
-0.3 % |
0.1 % |
3.2 % |
3 % |
3.5 % |
| Goods |
|
4.5 % |
0.3 % |
-0.6 % |
4 % |
2.8 % |
3.8 % |
| Services |
|
1.3 % |
-1.5 % |
1.6 % |
1.4 % |
3.6 % |
3 % |
| Imports
|
|
4 % |
1.3 % |
4.6 % |
4 % |
1.1 % |
2.2 % |
| Goods |
|
4.3 % |
0.9 % |
4.9 % |
4.1 % |
0.9 % |
2.1 % |
| Services |
|
2.5 % |
3.1 % |
2.9 % |
3.6 % |
2.2 % |
2.7 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
0.1 % |
0.8 % |
1.8 % |
-0.2 % |
-2 % |
-1.4 % |
| Federal |
|
0.2 % |
- % |
- % |
-1.9 % |
-5.7 % |
-3.2 % |
| National defense |
|
0.2 % |
-0.7 % |
-2.1 % |
-2.1 % |
-6.6 % |
1.8 % |
| Nondefense |
|
0.1 % |
1.2 % |
3.3 % |
-1.5 % |
-4.1 % |
-0.7 % |
| State & local |
|
0.1 % |
1.2 % |
2.9 % |
1 % |
0.5 % |
-0.7 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
2.4 % |
1.9 % |
2.4 % |
2.3 % |
2.2 % |
2.6 % |
| Gross domestic purchases |
|
2.4 % |
1.7 % |
3.2 % |
2.5 % |
1.9 % |
2.6 % |
| Final sales to domestic
purchasers |
|
2.5 % |
2.1 % |
3.1 % |
2.5 % |
1.9 % |
2.4 % |
| Gross national product
(GNP) |
|
2.3 % |
1.4 % |
2.3 % |
2.3 % |
2.2 % |
2.5 % |
| Disposable personal income |
|
1.2 % |
1.4 % |
3.5 % |
2.5 % |
2.2 % |
2.7 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
4.1 % |
2.8 % |
3.7 % |
3.9 % |
- % |
4.6 % |
| Final sales of domestic product |
|
3.5 % |
2.1 % |
3.6 % |
3.9 % |
3.7 % |
4.4 % |
| Gross domestic purchases |
|
3.8 % |
2.5 % |
3.7 % |
3.9 % |
3.7 % |
4.3 % |
| Final sales to domestic purchasers |
|
4.7 % |
3.5 % |
3.8 % |
3.9 % |
- % |
4.1 % |
| GNP |
|
4.2 % |
2.7 % |
3.4 % |
3.7 % |
3.2 % |
4.3 % |
| Disposable personal income |
|
2.9 % |
2.6 % |
3.8 % |
3.8 % |
3.7 % |
4.4 % |
| |
|
|
|
|
|
|
Annual U.S. GDP
(In Billions of Dollars) |
2017
|
2016
|
2015
|
2014
|
2013
|
2012
|
| Gross domestic product
(GDP) |
|
19,390.6 |
18,624.5 |
18,036.6 |
17,418.9 |
16,799.7 |
16,244.6 |
|
Personal consumption expenditures |
|
13,395.5 |
12,820.7 |
12,283.7 |
11,930.3 |
11,501.5 |
11,149.6 |
| Goods |
|
4,295.3 |
4,121.4 |
4,012.1 |
3,968.7 |
3,885.9 |
3,769.7 |
| Durable
goods |
|
1,473.8 |
1,411.0 |
1,355.2 |
1,302.5 |
1,263.0 |
1,202.7 |
| Motor vehicles & parts |
|
498.2 |
480.8 |
464.8 |
447.8 |
424.5 |
401.7 |
| Furniture & household equipment |
|
338.7 |
325.2 |
305.1 |
287.5 |
285.8 |
275.1 |
| Other |
|
405.8 |
385.5 |
376.6 |
205.5 |
205.0 |
191.3 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
2,821.5 |
2,710.4 |
2,656.9 |
2,666.2 |
2,622.9 |
2,567.0 |
| Food off-premises consumption |
|
937.7 |
915.1 |
900.7 |
888.6 |
884.0 |
863.3 |
| Clothing
& shoes |
|
400.2 |
393.7 |
379.5 |
365.4 |
362.7 |
354.6 |
| Gasoline,
fuel, oil & other energy goods |
|
304.1 |
273.7 |
303.7 |
398.3 |
408.7 |
417.0 |
| Other |
|
1,172.8 |
1,126.1 |
1,076.9 |
1,013.9 |
967.5 |
932.1 |
| |
|
|
|
|
|
|
|
| Services |
|
9,100.2 |
8,699.3 |
8,271.6 |
7,961.7 |
7,615.7 |
7,379.9 |
| Housing |
|
8,723.3 |
8,340.4 |
7,943.7 |
7,633.7 |
7,326.2 |
7,089.4 |
| Food services |
|
878.2 |
849.2 |
808.8 |
755.5 |
736.5 |
701.7 |
| Electricity & gas |
|
3,197.2 |
3,022.1 |
2,963.2 |
2,166.0 |
2,082.5 |
2,013.9 |
| Financial services |
|
1,054.6 |
984.7 |
921.1 |
885.1 |
849.2 |
821.0 |
| Transportation |
|
406.6 |
392.5 |
368.4 |
344.9 |
324.3 |
318.1 |
| Medical
care |
|
2,259.9 |
2,163.7 |
2,069.0 |
1,997.2 |
1,918.6 |
1,847.6 |
| Recreation |
|
518.0 |
492.6 |
466.3 |
444.6 |
427.2 |
416.6 |
| Other |
|
1,172.8 |
1,126.1 |
1,076.9 |
1,040.4 |
987.9 |
970.4 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
3,212.8 |
3,057.2 |
3,056.6 |
2,851.6 |
2,670.0 |
2,475.2 |
| Fixed investment |
|
3,197.2 |
3,022.1 |
2,963.2 |
2,769.6 |
2,564.0 |
2,409.1 |
| Nonresidential |
|
2,449.6 |
2,316.3 |
2,311.3 |
2,210.5 |
2,047.1 |
1,970.0 |
| Structures |
|
560.2 |
516.2 |
507.3 |
506.9 |
456.4 |
437.3 |
| Equipment & software |
|
1,098.4 |
1,043.9 |
1,086.1 |
1,017.3 |
939.7 |
907.6 |
| Information processing equipment & software |
|
323.1 |
303.9 |
314.3 |
294.1 |
290.1 |
284.5 |
| Computers & peripheral equipment |
|
79.2 |
73.1 |
78.5 |
75.7 |
77.9 |
79.2 |
| Software |
|
243.9 |
230.8 |
235.8 |
304.9 |
294.4 |
281.6 |
| Other |
|
243.9 |
230.8 |
235.8 |
218.4 |
212.2 |
205.4 |
| Industrial equipment |
|
243.3 |
225.0 |
220.9 |
238.6 |
202.8 |
195.3 |
| Transportation equipment |
|
290.3 |
286.7 |
308.1 |
257.6 |
218.9 |
214.4 |
| Other equipment |
|
241.6 |
228.3 |
242.9 |
227.0 |
227.9 |
213.4 |
| Residential |
|
747.6 |
705.9 |
651.9 |
559.1 |
516.9 |
439.2 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
15.7 |
35.1 |
93.4 |
82.0 |
106.1 |
66.1 |
| Farm |
|
2.4 |
-0.6 |
-2.0 |
7.9 |
40.4 |
-11.7 |
| Nonfarm |
|
13.2 |
35.7 |
95.4 |
74.1 |
65.7 |
77.8 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-571.6 |
-521.2 |
-522.0 |
-538.2 |
-497.3 |
-547.2 |
| Exports |
|
2,344.0 |
2,214.6 |
2,264.3 |
2,337.0 |
2,259.9 |
2,195.9 |
| Goods |
|
1,546.8 |
1,446.0 |
1,498.4 |
1,614.7 |
1,567.0 |
1,536.0 |
| Services |
|
797.1 |
768.5 |
765.9 |
722.2 |
692.9 |
659.9 |
| |
|
|
|
|
|
|
|
| Imports |
|
2,915.6 |
2,735.8 |
2,786.3 |
2,875.2 |
2,757.2 |
2,743.1 |
| Goods |
|
2,381.8 |
2,224.2 |
2,291.1 |
2,385.5 |
2,296.0 |
2,295.4 |
| Services |
|
533.8 |
511.6 |
495.2 |
489.7 |
461.2 |
447.7 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
3,353.8 |
3,267.8 |
3,218.3 |
3,175.2 |
3,125.5 |
3,167.0 |
| Federal |
|
1,260.7 |
1,231.5 |
1,225.0 |
1,219.2 |
1,245.9 |
1,295.7 |
|
National defense |
|
744.4 |
728.9 |
732.0 |
761.5 |
770.7 |
817.1 |
|
Consumption expenditures |
|
588.7 |
585.2 |
590.6 |
618.9 |
612.0 |
652.0 |
|
Gross investment |
|
155.7 |
143.7 |
141.3 |
142.6 |
158.7 |
165.1 |
|
Nondefense |
|
516.2 |
502.6 |
493.0 |
457.6 |
475.1 |
478.6 |
|
Consumption expenditures |
|
389.1 |
379.4 |
373.1 |
346.3 |
359.0 |
359.7 |
|
Gross investment |
|
127.2 |
123.3 |
119.9 |
111.3 |
116.1 |
118.9 |
| State and local |
|
2,093.2 |
2,036.3 |
1,993.3 |
1,956.1 |
1,879.6 |
1,871.3 |
| Consumption
expenditures |
|
1,754.4 |
1,693.6 |
1,641.2 |
1,620.4 |
1,548.1 |
1,536.4 |
| Gross
investment |
|
338.8 |
342.7 |
352.2 |
335.7 |
331.5 |
334.9 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
19,374.9 |
18,589.4 |
17,943.3 |
17,336.9 |
16,693.7 |
16,178.5 |
| Gross domestic purchases |
|
19,962.2 |
19,145.7 |
18,558.6 |
17,957.2 |
17,297.0 |
16,791.8 |
| Final sales to domestic purchasers |
|
19,946.5 |
19,110.6 |
18,465.2 |
17,875.1 |
17,191.0 |
16,725.7 |
| Gross national product |
|
16,592.7 |
15,842.8 |
15,246.9 |
17,630.6 |
17,057.5 |
16,497.4 |
| Net domestic product |
|
19,390.6 |
18,624.5 |
18,036.6 |
14,682.7 |
14,153.2 |
13,701.7 |
Next U.S. GDP report is expected on February 25, 2121.
|
